The city may incur indebtedness upon authorization of the council, by ordinance, by the issuance of its negotiable bonds and notes in anticipation of bonds for any purpose now or hereafter authorized by the Constitution and laws of the State of Ohio, but the net indebtedness incurred without a vote of the electors shall never exceed the limitations now or hereafter prescribed by such laws upon indebtedness so incurred by municipal corporations. As used in this section, the term "net indebtedness" shall have the same meaning as and shall be calculated in the manner provided by the laws of the State of Ohio, as the same may be amended from time to time, for the issuance of notes and bonds. (Adopted 5-8-62.)
The council may, by ordinance, determine to proceed with a public improvement, all or part of the cost of which is to be assessed against real property specially benefited thereby. The council may establish by ordinance, the procedure to be followed in making such assessments and may in any case determine the proportion of the cost of such improvement which shall be paid from general revenues and that which shall be assessed. It may also fix the manner and duration of the payment of special assessments.
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